The live price of Tether USDt is - per (USDT / USD) with a current market cap of $151.23B USD. 24-hour trading volume is - USD. USDT to USD price is updated in real-time. Tether USDt is -% in the last 24 hours with a circulating supply of 151.21B.
| Date Comparison | Amount Change | % Change |
|---|---|---|
| Today | - | 0% |
| 30 Days | - | 0% |
| 60 Days | - | 0% |
| 90 Days | - | 0% |
Tether (USDT) is the world's first and most widely used stablecoin and a top 3 cryptocurrency by market cap. USDT is an Ethereum-based, asset-backed stablecoin that is primarily pegged and backed by the US dollar. As a result, Tether's value is always close to $1.
In October 2014, Brock Pierce, Reeve Collins, and Craig Sellars launched USDT, which is pegged 1:1 to the US dollar and aims to provide traders and investors with a reliable way to hold digital value and avoid the extreme price volatility common in other cryptocurrencies. USDT was initially issued on the Bitcoin blockchain through the Omni Layer and has since expanded to multiple networks such as Ethereum, Tron, BNB Chain, Solana, etc., making it highly interoperable in the digital asset ecosystem.
Originally called Realcoin, Tether was launched in 2014 by Reeve Collins, Craig Sellars, and Brock Pierce. USDT tokens are issued by Tether Limited, a company controlled by Bitfinex, and can be redeemed in equal amounts at any time.
Tether Ltd., the company that issues USDT, claims that all tokens in circulation are backed by reserves, which are composed of cash, cash equivalents, and other assets. The company also regularly publishes third-party certifications to increase transparency and build user trust. This practice has helped USDT maintain its dominance on centralized trading platforms and decentralized finance (DeFi) applications.
USDT is a cryptocurrency that can be minted or destroyed by its issuing company, Tether Limited, and more importantly, can be transferred to individuals quickly and cheaply through any blockchain-enabled network.
For example, every time a new USDT token is issued, Tether allocates the corresponding US dollar amount to its reserves, ensuring that USDT remains fully backed by cash and cash equivalents.
Tether originally used the Bitcoin network's Omni layer as its transmission protocol, and it is now available as an ERC-20 token on Ethereum. Tether has been issued on Bitcoin (Omni and Liquid protocols), Ethereum, EOS, and TRON blockchains.
Tether is issued by Tether Limited, a company that shares the same CEO as the cryptocurrency exchange Bitfinex. Tether once claimed to have 100% US dollar reserves for Tether. In 2019, the company's lawyers said that only 74% of Tether was backed by reserves. Tether explained that loans from its subsidiaries were also part of the reserves.
Tether revealed in an updated statement that USDT tokens are no longer fully backed by US dollar deposits. Instead, Tether is 100% backed by reserves, including traditional currencies, cash equivalents, short-term deposits, commercial paper, US Treasury bonds, corporate bonds, secured loans, precious metals, corporate funds, and a variety of other investments.
In January 2021, Tether limited minted a record 2 billion USDT tokens in a week. This comes during a period of dramatic growth in the cryptocurrency market, with a record of 1.5 billion tokens being set not too long ago. The growth in interest in USDT is linked to several reasons, including a growing lack of trust in traditional financial institutions and currencies, and a rise in institutional interest in cryptocurrencies.
In November 2021, USDT was launched on the Avalanche platform. Avalanche is one of the fastest and cheapest smart contract platforms in the blockchain industry that launched in 2020. USDT based on avalanche was initially supported by Bitfinex and is said to offer cheaper and faster USDT transactions.
In April 2022, USDT was added to the Kusama network, the 10th network to support asset-backed stablecoins. This is a milestone for Kusama and is particularly important for USDT.
Kusama is a decentralized, specialized, parallel blockchain network that is closely networked with the broader Polkadot blockchain and is often referred to as Polkadot's Canary network. Polkadot itself will also join the ranks of blockchains supporting USDT.
In May 2022, USDT was launched on the Polygon blockchain network, an Ethereum scaling solution, also known as a sidechain or second-layer network (layer-2), known for charging lower transaction fees and being faster than its main network Ethereum.
At that time, Polygon had processed more than $1.6 billion in transactions, had more than $5 billion in locked value, and had more than 19,000 decentralized applications (DApps) running on it. Polygon is the 11th blockchain network released by USDT.
Tether was founded in 2014 by a group of early cryptocurrency adopters and Bitcoin enthusiasts who were very enthusiastic about the digitization of fiat currencies. Its origin is the Mastercoin protocol based on the Bitcoin blockchain.
Brock Pierce is one of the original members of the Mastercoin Foundation, which helped develop and promote Mastercoin. Pierce co-founded Tether in 2014 with Craig Sellars and Reeve Collins, with the Mastercoin protocol as its technical foundation.
Tether's predecessor, "Realcoin," was announced in July 2014, and the first tokens were issued in October 2014. In November of the same year, the project was renamed Tether and announced to enter the closed beta phase, using three currencies: USTether (US dollars), EuroTether (Euros) and YenTether (Japanese yen).
Brock Pierce is a well-known entrepreneur and co-founder of several high-profile entertainment and crypto projects, including Blockchain Capital and Block.one. The company created the famous EOS blockchain project. He also serves as a director of a non-profit organization called the Bitcoin Foundation, which aims to improve and promote Bitcoin.
Reeve Collins is also a serial entrepreneur who had already co-founded successful companies such as Traffic Marketplace, RedLever, and Pala Interactive when he co-founded Tether. Craig Sellars, on the other hand, has been an active member of the Omni Foundation and is also associated with multiple organizations, including Bitfinex, Synereo, MaidSafe Foundation, and Factom.
A stablecoin is a cryptocurrency that achieves a fixed price by pegging its value to certain cryptocurrencies, commodities, fiat currencies or financial instruments, or by utilizing an arbitrage system.
Tether is issued by Hong Kong technology company Tether Holdings. Tether (USDT) was created to address the volatility issues that currently plague the cryptocurrency industry. As such, Tether is backed by fiat currency and is a stablecoin designed to track the value of the US dollar. Further, its goal is to keep cryptocurrencies at a stable valuation. Tether is the digital asset of choice for most cryptocurrency investors when dealing with the crypto community. Note: Cryptocurrency trading, purchases, and mining are prohibited in mainland China.
Tether (USDT) is different from USD (US Dollar). USDT is a cryptocurrency that tracks the price of the US dollar and generally faces different financial regulations than the US dollar in many jurisdictions.
As a stablecoin, Tether’s price is designed to be fixed at $1, so it is unlikely to see any significant rise or fall.
However, there have been several occasions when the price of USDT has fallen below $1. This usually happens during times of high uncertainty and fear in the market. However, USDT has managed to regain momentum.
Also, the price of USDT is unlikely to deviate from $1 because the token can be exchanged for an equivalent amount of USD whenever there is positive market sentiment.
Tether (USDT) is pegged to a fiat currency, providing security to holders. The currency is always backed by and fungible with physical currencies. USDT was first pegged to and backed by the US dollar, and later to the euro, yen, renminbi, and reportedly the Mexican peso. According to Tether's philosophy, USDT can be traded against the pegged fiat currency without adversely affecting the digital ecosystem or risking a loss of exchange value.
At EuroEasy, we recommend that you research any cryptocurrency before investing objectively. Cryptocurrency is considered a high-risk asset that is prone to large price fluctuations. Therefore, we want you to invest only in assets that you are willing to take the risk on.
In addition, like all cryptocurrencies, USDT is volatile and carries investment risk. Therefore, before investing, you should do in-depth self-learning research (DYOR) and assess your risk appetite.
Tether was founded as a startup in Santa Monica, California in 2014 by entrepreneurs Brock Pierce, Reeve Collins, and Craig Sellars.
Tether tracks the price fluctuations of the U.S. dollar. Since it is a stablecoin, it cannot go below or above $1, and only minor fluctuations are allowed. Therefore, each Tether in circulation must be backed by a corresponding amount of cash or appropriate financial instruments.
Tether does not set a maximum supply of USDT, but issues new tokens based on demand and reserves. As of writing, the circulating supply of USDT is over 70 billion.
Although Tether is a digital currency like Bitcoin, it cannot be mined because Tether is essentially pegged to the U.S. dollar. Mining Tether contradicts the reason why this cryptocurrency was created, so the only way to obtain Tether is to buy it. Note: Cryptocurrency trading, purchasing, and mining are prohibited in mainland China.
USDT is one of the earliest stablecoins on the market, launched in 2014. It is available on multiple blockchain platforms such as Ethereum, Tron and Bitcoin Cash, so users can store and trade it flexibly. USDT has high recognition and strong liquidity. If traders and investors want to hold stable digital assets so that they can easily exchange them for other cryptocurrencies or fiat currencies, then USDT must be their first choice.
Tether has been embroiled in controversy due to its opaque foreign exchange reserves. Previously, the New York Attorney General's Office filed a lawsuit against Tether Holdings, requiring the company to disclose its fiat reserve currency records on a quarterly basis. However, the company's recently released records show that only 10% of Tether, with a market value of more than $69 billion, is backed by real money and similar financial instruments. This has ignited the anger of regulators and critics, who say that the stablecoin is printing money. Tether Holdings was also recently implicated in the misappropriation of funds from cryptocurrency exchange BitFinex and was fined $18 million.
Tether (USDT) is designed to maintain a stable value relative to the US dollar. Tether claims that each USDT is backed by $1 in reserves. Buyers send US dollars to Tether when purchasing USDT, and Tether issues the corresponding amount of USDT to the buyer. Tether can then invest the US dollars in various assets to earn returns, and use these returns to pay operating costs and stabilize the price of USDT.
Users can buy USDT directly from the Binance platform using a debit or credit card. Users can also use USDT to trade other cryptocurrencies on the Binance exchange. USDT prices are updated in real time on Binance.
The Tether USDt to other currencies exchange rate?
